“MB Business Capital brought their experience and formidable knowledge of our industry to the deal which facilitated an easy transition into their bank," says Jack T. Shannon, Owner of J.T. Shannon Lumber Company, Inc.
Chicago, IL (PRWEB) February 11, 2016
MB Business Capital, a division of MB Financial Bank, N.A., announced it recently provided a new $21 million senior credit facility to Memphis, Tennessee-based J.T. Shannon Lumber Company, Inc. J.T. Shannon is an integrated lumber company that controls its operating environment from timber procurement to sawmill operations and distribution of lumber and finished flooring products. Proceeds of the facility were used to refinance existing debt and to fund working capital needs.
“J.T. Shannon is a family run business with its roots dating back to the 1800’s. They have withstood the test of time and our innovative lending facility will help them execute new strategic initiatives and continuation of increased operating efficiencies. We look forward to a long and prosperous relationship together,” says Michael Sharkey, President of MB Business Capital.
“MB Business Capital brought their experience and formidable knowledge of our industry to the deal which facilitated an easy transition into their bank. Today, it is more important than ever to work with a lender who understands your business and actually helps you make the correct financial decisions needed to advance your company’s operating goals,” says Jack T. Shannon, Jr., owner of J.T. Shannon Lumber Company, Inc.
About MB Business Capital
MB Business Capital is the asset based lending division of MB Financial Bank, a commercial bank headquartered in Chicago, Illinois. MB Business Capital seeks asset based lending opportunities in the $5 million to $50 million range and is offering dedicated syndication opportunities of up to $100 million. The firm can also provide access to the full range of business banking products and services offered by MB Financial Bank.
About MB Financial, Inc. (NASDAQ: MBFI)
MB Financial Inc. is the Chicago-based holding company for MB Financial Bank, which has approximately $15 billion in assets and a more than one hundred year history of building deep and lasting relationships with middle-market companies and individuals. MB offers a full range of powerful financial solutions and the expertise and experience of bankers who are focused on their clients’ success. Learn more about MB Financial, Inc. at http://www.mbfinancial.com.